Kenya Bond Market Update: 28 September 2023

Published on
September 28, 2023
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Tap Over


The TAP-Sale of the FXD1/2023/2Yr & FXD1/2016/10Yr closes today and the bids must be at the Central Bank by 2.00 PM EAT. Attached is the prospectus for any last minute details required. Below is a snapshot of what is at play within the secondary market for your consideration. Happy hunting and tapping!
 
Below are the two-way quotes for the benchmark tenors:
 
Indicative Two-Way Quotes - Benchmark Tenors
Benchmark Tenor Bid (%) Offer (%) Mov (t-t0)%
1Yr 15.40 15.10 0.00
2Yr 17.50 17.35 0.00
5yr 18.00 17.85 0.00
10yr 17.00 16.50 0.00
15yr 17.00 16.00 0.00
20yr 16.50 16.00 0.00
25yr 16.50 16.00 0.00
 

Below are details of the two-way quotes for the infrastructure bonds and the key rates:
 
Indicative Two-Way Quotes - IFB Series
IFB series Maturity Bid (%) Offer (%) Mov (t-t0)%
IFB1/2017/7 (IFB13) Nov-24 13.50 13.00 0.00
IFB1/2016/9 (IFB10) May-25 13.50 13.00 0.00
IFB1/2015/12 (IFB8) Mar-27 14.00 13.00 0.00
IFB1/2017/12 (IFB12) Feb-29 15.00 14.00 0.00
IFB1/2016/15 (IFB11) Oct-31 15.00 14.00 0.00
IFB1/2018/15 (IFB14) Jan-33 15.00 14.50 0.00
IFB1/2018/20 (IFB15) Oct-38 16.00 15.00 0.00
IFB1/2019/25 (IFB16) Feb-44 16.50 15.00 0.00
IFB1/2019/16 (IFB17) Oct-35 16.00 15.00 0.00
IFB1/2020/9 (IFB18) Apr-29 14.50 14.00 0.00
IFB1/2020/6 (IFB19) May-26 13.00 12.00 0.00
IFB1/2020/11 (IFB20) Aug-31 15.75 15.00 0.00
IFB1/2021/16 (IFB21) Jan-37 15.75 15.00 0.00
IFB1/2021/18 (IFB22) Mar-39 15.70 15.00 0.00
IFB1/2021/21 (IFB23) Aug-42 16.50 15.30 0.00
IFB1/2022/19 (IFB24) Jan-41 15.50 15.00 0.00
IFB1/2022/18 (IFB25) May-40 15.80 15.00 0.00
IFB1/2022/14 (IFB26) Oct-36 16.00 15.00 0.00
IFB1/2022/6 (IFB27) Nov-28 13.30 13.20 0.00
IFB1/2023/17 (IFB28) Feb-40 15.90 15.30 0.00
IFB1/2023/7 (IFB29) Jun-30 15.85 15.75 0.10
 
Key  Interest Rates   Mov (bps)
O/N Interbank 12.8535% -9.71
91 Day T-bill 14.7866% 27.15
182 Day T-bill 14.9399% 52.51
364 Day T-bill 15.2214% 49.32
Central Bank Rate (CBR) 10.50% 0.00
Inflation 6.70% -60.00
 
Attached are the bond positions available today and the FXD1/2023/2Yr & FXD1/2016/10Yr Tap-Sale Prospectus.
Bond Positions
FXD1/2023/2Yr & FXD1/2016/10Yr
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